This is in the Reign of Giants DLC only. I do not own shipwrecked.
This was through Steam on a Windows 10 laptop.
Steps to replicate this bug:
Load into a new world with any character. Give yourself godmode and creative mode to craft any item.
Craft the flingomatic and place it near any flammable object (tree, bush, etc.). Activate the flingomatic.
Light the flammable item on fire. Flingomatic will throw snowballs at itself and WILL NOT put the fire out!
Game will occasionally crash and exit instead when a Flingomatic is activated or tries to fire at an entity.
This started happening once the QOL update came out.
No mods were enabled, default world gen.
Cheers